The EU’s Accounting and Transparency Directives will be revised in order to set stricter disclosure standards for extractive and logging industries as advocated by the Extractive Industry Transparency Initiative (EITI). On 9 April 2013, the Parliament and the Council reached an agreement upon the Commission’s proposal submitted in October 2011. Once the changes are approved and adopted by the member states, companies will have to disclose all payments to public authorities in countries where they exploit resources with a value above 100 000 euros. Thus, the European regulations will be comparable to those introduced by the US-American Dodd-Frank Act, effective since November 2012. According to Global Witness, companies required to comply with these rules in the USA and EU account for about 70 % of the sector’s stock exchange value. For more details on the legislation process, please consult the website of the European Commission.